Envestnet Portfolio Solutions Inc. Acquires 1,050 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 4.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 22,332 shares of the investment management company’s stock after purchasing an additional 1,050 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in The Goldman Sachs Group were worth $12,788,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Jackson Grant Investment Advisers Inc. boosted its stake in The Goldman Sachs Group by 10.9% during the 4th quarter. Jackson Grant Investment Advisers Inc. now owns 163 shares of the investment management company’s stock valued at $93,000 after purchasing an additional 16 shares during the period. Ledyard National Bank boosted its stake in The Goldman Sachs Group by 3.4% during the 4th quarter. Ledyard National Bank now owns 486 shares of the investment management company’s stock valued at $278,000 after purchasing an additional 16 shares during the period. Seelaus Asset Management LLC boosted its stake in The Goldman Sachs Group by 2.5% during the 4th quarter. Seelaus Asset Management LLC now owns 660 shares of the investment management company’s stock valued at $378,000 after purchasing an additional 16 shares during the period. Pointe Capital Management LLC boosted its stake in The Goldman Sachs Group by 1.0% during the 4th quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company’s stock valued at $951,000 after purchasing an additional 16 shares during the period. Finally, Genesee Capital Advisors LLC boosted its stake in The Goldman Sachs Group by 1.0% during the 4th quarter. Genesee Capital Advisors LLC now owns 1,788 shares of the investment management company’s stock valued at $1,024,000 after purchasing an additional 17 shares during the period. Institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,034 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total value of $1,275,338.34. Following the transaction, the chief accounting officer now directly owns 6,455 shares in the company, valued at approximately $4,047,349.55. This trade represents a 23.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Treasurer Carey Halio sold 1,545 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total value of $965,115.15. Following the completion of the transaction, the treasurer now owns 8,192 shares in the company, valued at $5,117,296.64. The trade was a 15.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,925 shares of company stock valued at $12,630,683 in the last three months. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Trading Up 3.3 %

GS stock opened at $542.31 on Monday. The business has a fifty day moving average price of $612.79 and a 200 day moving average price of $567.23. The Goldman Sachs Group, Inc. has a fifty-two week low of $383.41 and a fifty-two week high of $672.19. The stock has a market capitalization of $169.22 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 0.89 and a beta of 1.37. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The firm had revenue of $13.87 billion during the quarter, compared to analysts’ expectations of $12.36 billion. During the same period last year, the firm posted $5.48 EPS. The business’s revenue was up 22.5% on a year-over-year basis. Analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a dividend of $3.00 per share. The ex-dividend date is Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a yield of 2.21%. The Goldman Sachs Group’s dividend payout ratio is 29.59%.

Analyst Ratings Changes

Several equities analysts have commented on GS shares. Oppenheimer cut their price target on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company reaffirmed an “overweight” rating on shares of The Goldman Sachs Group in a report on Friday, February 28th. Morgan Stanley cut their price target on The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating for the company in a report on Thursday. JPMorgan Chase & Co. upped their price target on The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods cut The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $690.00 to $660.00 in a report on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $594.27.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.